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cash. here in the low-interest rate environment, debt financing is going to be big. >> and the large cap plays. go through those. >> verifone, a leader in electronic payment devices. this has been disrupted by new players like square and paypal and google. the stock has been hit, but our fund manager we talked to think it's been unfairly hit. any time an industry is being disrupted, that's a good opportunity. >> u.s. bancorp? >> this is an old fashioned bank. focuses on deposits and loans and wealth management. none of the other stuff that can get you into trouble. this is one our clients really liked. >> this year dividend plays have been huge. everyone is looking for income. they look to these companies that have a good yield. the two that came through here were ford and, as it happens, our majority owner comcast. >> yes. so ford, you know, the auto recovery story is pretty significant. it's still happening. cars on the road are older. the replacement rate is going to go up. with ford, it has a rock-solid balance sheet. its dividend yield, we think, could go up. comcast is interest
they are and will they be able to perform regardless of the macro environment? >> all right. we are focused on. companies that can grow regardless of what happens in the economy. three stocks we like, one is denbury resources. what's interesting about them is they have hedged their forward sales of oil so the lowest they're going to receive is $80 next year. at those rates, they're going to be a very profitable company. it's a very inexpensive stock. we like that. it's a u.s. oil producer as well. we like that. link linkedin, we think attracted as much attention as it should. they're executing very well in the professional business social networking sense. in particular, head hunters across the globe. this is now the method of head hunting. finally, an enterprise software design company used in making semiconductor chips. we see them as providing a very stable and growing play on technology without necessarily having to pick, you know, end winners. >> got it. >> thank you. >> very good, guys. thank you all for joining us today. rick, good luck with the reappraisal on your property there, whatever you're
to the golf game. that is the theory. that is no longer the case but in today's environment, now a consumer can access the bank on their terms. we have a credit union up in kingston, new york, open 24 hours a day, seven days a week. talk about customer convenience. >> he is eggsly -- especially recurring transfer and can't figure it out on the website. so nice to look at that person. does it work, say, for example, a tablet with a camera on it? can i use it from any device? >> that is our next phase in fact, liz. we'll take it to the tablet environment. we'll take it to the online environment. we have another product called the smart office. they have the ability to talk to an investment rep, mortgage rep. liz: can i deposit check by showing it to the teller? >> you can do that online anyway. you can do that through a mobile application out today. in our machine you actually scan it in and verifies the check as authentic. liz: disruptive technology it is known as. ugenius is the product. the founder and ceo, gene pranger. >> thank you. liz: david, he wasn't even a banker. david: you have to
- and there could be friction. conservationists say hydraulic fracturing for gas is harmful to the environment, while supporters claim it creates jobs and more domestic oil. today in upstate new york marks the final opportunity for public comment before the the department of environmental conservation makes a final decision. in a speech today, former president bill clinton will use his star power to talk about the growth of wind power in the midwest. one study shows adding wind energy to the grid saves midwest consumers between $65 and $200 per year. bill clinton has become an increasingly strong proponent of renewable energy, and specifically wind power. the former president is using his global presence to push for private and governmental adoption of clean energies. in her first major move since becoming ceo of yahoo, marissa mayer is calling for a complete overhaul of its email. the new design has a cleaner look and fewer ads. mayer blogs that's what consumers want. competition is tough in the webmail space, especially as more teens prefer texting. web- based email edged up just 1.1% in sep
by the american people and your businesses and the economic environment worldwide. we should not accept going through that. you know, john engler, he and i philosophically do not agree on much -- [ laughter ] >> you know, i am just being honest about john. he ii a great politician. he comes from the other party. he is exactly right when he says the only thing that the debt ceiling is good for is destroying your credit rating. i want to send a very clear message to people here. we are not going to play that game next year. if congress in any way suggest that they will type negotiations to that feeling both and take us to the brink of default onne again, as part of a budget to go she asian, which, by the way, we have never done in our history, until we did it last year, i will not play that game. with that, let me just say, we have one path where we resolve this fairly quickly. we have some tough spending cuts. we have modest revenue increases. you get business certainty. you do what you do best. and, we then have an open running world next year to deal with a whole host of other issues like in
. they will go on record as risking a click event. they will say we did our part. no one wins in an environment where you could potentially hurl into a recession. the sense that i got from these guys is they will probably gather something. they really have too have at least the outline of a deal by friday or this weekend. i know that sounds bizarre, but they have three days to mark up a bill. three days to put it in conference. another three days to review. i am including the weekend days as they go forward here. they could change that. one would say, well, you know, we can change these rules and they can. it is either friday or potentially bust. it is a head scratch or to me that they do not see the market implications of getting something done. i know we do not have a lot of time. i think that what they will do is rush a bad deal that will be worse than no deal. i think the markets will punish them all the more. be careful. we remember when the markets fell almost 780 points. congress rushed back in action to prove another deal. a few months later the dow was down an additional amount. do not
and the environment. europe, japan and russia are also expected to continue to decline. connell: a matter of time, as they say. this fox business exclusive, we will talk about the war on business. it was a record year for anti-trust funds. dagen: the sanctions against iran. if this policy will change anything over there. the state of the economy and why it matters to you and this, the cost of crude oil. take a look at it. more than $86 a barrel. stubbornly high. ♪ >> announcer: you never know when, but thieves can steal your identity and turn your life side down. >> hi. >> hi. you know, i can save you % today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they caopen bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have t most corehensive identity theft protection available today... lifelock ultimate. so for protection you just can't
to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahead, scott. how are you investing right now? >> maria, i think the best way forward is the way it's worked since the bottom of the market in 2009. risk assets are where it's at. the fed is very supportive. the consumer is back and engaged. housing is getting better. the fiscal cliff is actually constructive from the standpoint it causes people to come together and compromise because going over the cliff while we may do it for a short time period is not beneficial to anybody. it hurts everybody. >> so risk assets being, what, technology? what does that mean, technology? >> not necessarily. we would stay with dividend payers. we would also dip our toe into europe into some very high-quality, multicountry stocks there. mostly on consumer discretionary stocks as well. >> george, we haven't forgotten you yet. scott, i have a question for you. just noticed today france and germany's stock markets hit 52-week highs. we're still wringing our hands ov
% interest rate environment until 2013. and after, they will still be at that point. >> the reason i ask. wednesday they've got the new announcement. operation twist which has kept rates low. >> and they'll probably extend. >> you think they'll extend that. will the market respond though? >> i think that allows the market then to price what's going to happen on the fiscal side. fiscal tightening, there's a responsibility. in europe they're trying to shrink their way into growth. i don't think that's going to work. in the united states we have to have short-term balance stimulus and longer term very controlled ratcheted down austerity. if that does happen, you could set the backdrop for a solid economy. >> what would you buy here right now? >> the discussions we're having with our clients is that they shouldn't be taking any more credit risks than they're comfortable with. everything can change very quickly if the politicians fail to come up with a responsible solution to this. foremost, you shouldn't be taking excess credit risk right now. if we slip into a recession, there's a lot of mo
the creation of jobs in the u.s. economy. if you can get the u.s. economy past this model through environment, you will see a slight acceleration in the second half. cheryl: your last point is manufacturing. in the report, it was basically flat. we had downward revision for september and october from the report. you are not concerned about that sector at all? >> i am not concerned about that sector. we are looking at a longer-term and the impact it has on the u.s. economy. when you look at what the u.s. does in a manufacturing basis, we manufacture 18.2% of other manufactured goods in the world today. that is bigger than japan. that is bigger than china. it is a very significant number. we do it better and less expensively. cheryl: a report saying it would be a good thing for this country if we begin to export natural gas. it would be good for the u.s. economy. some, especially in washington, saying it would be a bad thing. it would be a job killer. >> it is hard to me to figure that out. i think we have to find a balance between exports and the cheap fuel in the united states which will caus
are in a very good environment. and in north america, obviously, is important. europe is obviously important. but you're focusing on emerging markets. >> yes. >> even putting manufacturing, which i'm not sure, why would you build -- you're building a $100 million plant in africa. why not just export to avenue from from other places? why build a plant in africa? >> we have going to affect the organization from here. this was a unique opportunity because it was a state-owned factory. we managed to take over and they needed technology. and why produce there is a huge market. there are 1 billion people right now, the population will double. >> on the continent? >> yeah. on the continent of africa. they have a problem with feud security now. they have 60% of the global reserves of tillable land, which is great news, and only 20% of this land are used today, are farms today. therefore, it is a very interesting market. i'm very proud that we discovered it first and that we will be there also the first to manufacture from the western global players. >> so private corporation. who needs to go into th
at starbucks. people are desperate to find something new to buy. >> and in an environment of rising employment, that's a big deal for mcdonald's especially in the breakfast business which is a high margin business. it is highly leveraged to macro indicators too. >> when i go there, there's a promotion going on that didn't bring me into the store. i want to be brought into a store because of a promotion and not discover, wow, i paid much less than i thought. >> i told you about mcbites. will you go into the store now? >> i think they are called mccorn balls now. we changed the name. >> melissa is up to date on the menu. >> yesterday it was mcrib. >> these are very important to the stories of these fast food chains. that's why i'm so -- >> what's the calorie count? when you see the calorie count that's the determinant. can i have three lipitor. >> that's what i'm on right now. >> are you really? where is your bad cholesterol? >> it's not good. not good. >> mine is 80. >> goody for you. that's what happens when you get old. you compare cholesterol levels. >> i went to trader joe's last night. tur
as their environment, or industrial transportation, heating ventilation. so you've got a security company and what we consider to be the core of this, in many ways. significant buyback of shares, and pay dividends. but they're not moving it up, they're paying it in march. >> a new ceo comes in, listed the pelts. why should you buy anything with the pelts involved. this is work for "mad money," after pelts provided it. after. you're up 11%. in other words, you don't know before it. versus the s&p being up 4%. this goes back to 2005. he's been just a terrific guy to invest with, as, by the way, everybody tells me he's a terrific guy. >> he is a nice guy. his activism, he sort of moved it to the performance side of things, and the operational side. it was started many ways by hines, which was a nasty fight, now he's on the board. he and johnson are buddy buddy. >> johnson told me he felt pelts' idea after initial resistance, that pelts said his ideas were great. >> best buy, one of the big losers this morning. you point out merrill has a note telling a lot of people what they probably already know, fina
the competitive environment occupant there now. best buy, one stock that took a hit over the course of the year, and finishes up by showing you, retailers moving into the downside and upside in today's session. one other stock, petsmart, interesting story here. they became one of the latest companies to accelerate their 2013 quarterly dividend payment into 2012 to avoid taxes, liz, so it's the retailers doing that as well. >> i see on the bottom, gap moving higher after being hammered a couple days, too. it's a nice one year chart nonetheless. thank you, sandra, very much. let's review. the dow jones industrial at one point up 136 # points, john boehner, speaker of the house saying, you know what? there's going to be a deal by the end of the year, and reid, this afternoon, the senate leader said, no, i don't think we're going to present any spending cuts to the g.o.p.. as you see now, we cut gains there, but up 77 points. we talked about the bull and bear costume. steve betting on a bull market in 2013, but bearish for now. let's talk about what to buy now and what to pounce upon when the marke
buried about going or the fiscal cliff, nobody will be hiring in this environment. even though the fed is doing what they can, and will not translate into more jobs until the fiscal uncertainty gets removed. liz: ben bernanke said they will not tie any future fed rate moves to a point on the unemployment chart, that is 6.5%. we are well above 7%, so it will take a while, around midway 2015. they have never done that. >> they have been providing to say the rates will probably stay low. i have tried to be even more clear we will not be raising interest rates as one of the employment rate is above si abo. liz: what happens it is 6.5% and in part due to less than exciting participation in the labor force? >> ben bernanke address that in his report. none of these numeric thresholds are an absolute trigger. he said if we get below 6.5% but inflation is still low, they may think raising rates could still be inappropriate for he was very clear the fed still have a lot of wiggle room but at least you don't have to worry about raising interest rates until we get those markers. liz: what was your
think would be a good play given the environment we're in. >> three quick names. first of all, master card. master card will continue to
minutes but steve, if i could start with you, talk to us about the entrepreneurial environment right now in america. we hear two things. one, we hear that when the economy is not doing all that well, it's the best time ever to try and start something new. and then on the other hand, we hear that a lot of what's going on in america is keeping entrepreneurs from starting those new ventures. >> well, some of that is true. start-ups are down in the last five years. about 23%. but it is worth remembering that we started as a start-up. this company was a start-up in the last couple years, the reason we're the leading economy is because of the entrepreneurs building start-ups that have really powered our economy. we really need to as a nation double down on entrepreneurship. some of that is what needs to happen in washington, the jobs act that passed six months ago, the broad bipartisan support dealt with crowd funding and on-ramp for ipos. start-up app 2.0 introduces with bipartisan support. there's a role for washington but there's also a role for the private sector particularly entrepreneurs
trade. if you look at financials and a weakening global environment, it gets a little bit nervous in terms of how far could it go. >> we'll talk to you later. >> over to you. >> rise above d.c. congressman yoder will join us a republican who refused to sign the grover norquist pledge to not raise taxes, never, ever getting back together. taylor swift. we'll get his solution. >>> delta taking a big stakes in virgin. fill lebeau, what does it mean for both? >> for both? delta, more business over to the uk, lucrative business. we'll talk to the ceo of delta in a few minutes. rick santelli tracking the action at the c mulch e. what was it like today? >> it wasn't bad. we're going to give this auction a hook, an absolutely dead smack in the middle of the curve c. there's some strange inputs in this auction. $32 million yields a .327, which is exactly in the middle bitten off on wi. so pricing is fine. if you look at internals, a bid to cover -- to find a lower bid to cover they have to go back to february. if you look at direct bidding at 24.8, that is a record. that's almost twice 13%
through an environment with incredibly low interest rates, the financial sector is not making the money they once were. they need to be able to adapt and make some cuts. eventually at some point in time there will be a light at the end of the tunnel but right now is just management potentially cutting back to make sure they have got realistic numbers relative to what is going on today and tomorrow with regard to the economy. liz: only adds more fear to the market, the retail trader, the investor has been sitting on the sidelines. you know that as well as i do. e di ameritrade down, the stock down 20% since september of 2009. there was so much fear their and trading volumes of not gotten back to the heyday. what would get the retail investor off of the sidelines? >> number one, clarity. you talk about that an awful lot depended on the market place. once we get some sort of resolution in terms of what is going on with the tax structure and to tighten cuts and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and
left, let's talk about the current environment. what are you hearing from a lot of the senior executives that are asking for your advice or if you're in a board room or chatting with them especially in terms of the fiscal cliff and concern about making big decisions or lack thereof and not putting money at it. >> the interesting part is talk about the fiscal cliff is the talk about the talk about the fiscal cliff. i don't think people are as concerned as the level of chatter that goes around. i think the chatter is more than the concern. the fiscal cliff just happens to be a preset deal on a scale of one to ten. it's a deal that is possible as outcome. i think what the country should hope for is that we come up with a better deal. business wants the rules. i understand why business is very much do a deal. do a something. because a business then can make their plans around that. if a marginal tax rate goes up too high here, they'll put a plant somewhere else. you can make those decisions. they want to know the rules. >> know the rules of the road. >> there's an america out ther
are smith travel, if you look at those numbers, it's a very positive environment. the fiscal cliff will affect people when employment gets affected. this is a real issue. if you see something occurring with employment, we're sensitive, we're monitoring, we represent the folks that are going to be most affected if they don't do their job in washington. we're obviously concerned about it. if they deal with it, which we think they will. we think that next year should be pretty positive. >> meanwhile big party tonight? >> big party tonight, big party last night. >> that's what the city's all about. >> we'll be opening white plains in may, it will be a little warmer than it was up there last night. it's very exciting to see those hotels get done. 1,000 jobs for the city. >> you see at the bottom of your screen, nat gas inventory. >> listen natural gas prices are extending their gains from yet, after that 4% rally that we saw. we're looking at resistance perhaps around the 4.75 level. we saw a natural gas level that was certainly not what analysts were expectings. 65 billion cubic feet w
'll get. >> you know what, i think the environment, as you look out to next year, is really difficult, ross. i mean, you don't really know what is going to come out of the u.s. fiscal cliff, how damaging potentially that can be to u.s. confidence, u.s. activity. things seem to be holding up fairly well in china. but i think there is still going to be some concerns about the whole performance of the asian economy and whether that can actually pick up next year. and then, of course, in the eurozone itself, we seem to be mending the problems progressively and taking out the tail risks, which i think is good and that is the bottom line that investors should take going further forward, but at the same time, there are some elements that you can have. if you do a forecast, in a way you could come up with something like 1% quotes for next year, but at the same time, you have to be conscious that we've had such a battery of downside impact, downside negative news coming through really for all economists in the western world in the last few years. you have to be very cognizant of those. >> i th
not a cause for celebration. still a difficult operating environment. under the former chancellor's plan, we would have been borrowing less in the next three years. because the government has failed to get our economy growing and because the policies have pushed us into recent double dip recession, they'll be pr rowing 212 billion pounds more than they planned. put that in context, that is the equivalent of what we in the uk will be spending this financial year on health, transport and defense in aggregate. >> you were talking quite rightly about the low level of he have credit growth in the uk, which has obviously been a feature of this period. but there's a question of what's cause and what's effect there. the banks will tell you that that problem is not so much availability of credit, there's credit demand and even in the mortgage sector which under normal circumstances you might have been eager to see people borrow money. we're seeing net repayments for the first time for a very, very long time. so you can take the economy to water, but you can't make it drink. how do you respond. >> i s
universities, one a competition for grant money from the u.s. environment protection agency. each student group will be awarded $15,000. san jose state's project involves researching sustainable inexpensive building components. stanford's group wants to develop a low-cost colorrennation device to -- chlorination drinking device. groups will go to washington, d.c. to present their findings and the winner of that competition gets a second grant up to $90,000. >>> local democrats are asking the president to create a new no-drilling ocean preserve in california. the proposed executive order would ban offshore drilling in a 50-mile-long area from sonoma to mend see know county. the "-- men so dino -- mendocino county. lawmakers, including senator barbara boxer, and lin wasly, are spear heading the drive -- lin wasly, are -- lynn woosley, are spearheading the program. >>> there's higher rates from the p.u.c. the city says customers will pay between $11 and $95 more than the previous hike. customers will be able to opt out and have pg&e supply their power again? the operators of the oldest repsyche --
in this current, you know, environment to get close to where you guys were talking about without raising rates? >> it does not have to happen. i think it is the easiest way to guarantee that you'll get some additional reveeue. that does not mean once you drive the rates back up -- we are actually able to bring the top rates down to the high 20s. i think that is probably more aggressive than where we will go. it all depends on where you start your baseline. one of the things that is also important is. the more revenue we get, it also means more entitlement cuts and spending which means the bigger the deal, the better it is. connell: give me an odds, you are pretty optimistic? >> i think it is an 80% chance we avoid the cliff. but, do we avoid the cliff with a real deal or not? connell: senator warner, thanks a lot. dagen: i know the senator was that did what i have to say, go redskins. he has been terrific. one good thing to come out of d.c. calico weapons may be the last straw. we talked to you about the latest in syria. connell: 401(k) matches on employees. could that spread to other companie
and a healthy job environment? >> i think it's a multiyear process ahead of us. i think it will be a slow slog. actually i look at the very, very low rates that we have right now, the treasury rates, really being a sign of the sickness of the economy. when we start to see treasury rates on a sustained upward move, that will tell me that we're going back to what used to be normal, say pre-07 to a economy growing 3 or 4%. until we start to see the fed not pushing down on rates so much we have to look for more of the same. tracy: real quickly some of the sectors you like one of them is energy. a lot of people say we have energy boom in the united states. you like the shale gas and liquids, right? >> yes because here's an industry that really has exploded in the last half a dozen years where it didn't previously exist. it will help to lower the cost of energy in the whole economy making our economy again more efficient than just about any other developed country and a source of real wealth as we create to build out this sector here more and more of that. margie patel, wells fargo management. ashle
in an increasingly competitive environment? >> well, we try to stay ahead of the game. we have collections. i think one of the big trademarks of our product is the quality and intensity of colors, of course, joe kohler has been tremendous for us. the whole joe market opened up the professional market. we stay true to the course. when they get opi on their nails, you know it is quality. sometimes they would pay a little bit more to get a better product. that is where the opi name comes in. connell: we talk about the tax rates going up at the end of the year, potentially, for everybody. highly likely they will go up for the wealthiest of americans. in california, the top tax rate will be close to 52%. are you comfortable paying taxes at that level? >> comfortable or not, that is the price of living in california. i think there is a responsibility that each one of us has. we have to pay our fair share. it is what it is. dagen: okay. [ laughter ] >> i do not think we should get bogged down in the present, it is more important to go along with business and make more money so we can pay the taxes. dagen:
to part time, in the environment where we're looking at 8% unemployment, this isn't about solving the economy. it's very obvious now. stuart: all politics all the time, it is redistribution, it's neo-socialism, forget what it will actually do to economic growth, no, what will it do for my political legacy? >> that's the point. it's advancing the causes of bureaucracy and dependency. so you have people who they no long very a full-time job. they have a part-time job. they need more government benefits you need a bigger bureaucracy to administer it. i'm not a big government fan. if you catch say the euro train on the continent two hours from brussels, that's pretty good, if you want government spending, here's something to show for it. there's nothing to show for it here except the department of bureaucratic compliance. charles: this was a big beef with the stimulus package. they are like -- they built a bridge that took me to stuart and it took them two years to do it. charles: hold on a second. i have to go to nicole, a bank announced they are cutting 11,000 positions? they are re
top 50. that is very interesting, as well. this is the environment. it bodes very well. another winning day here on wall street. drug stocks, bank stocks doing well. the vix, the fear index, is to the downside. let's take a look at urban outfitters. taking a look at their quarterly sales. they are looking better than expected. under their umbrella is a name brand that a lot of the teenagers know very well. they had a good block friday. urban outfitters is up over two dollars. back to you. connell: as we get close to this fiscal cliff, both sides agreeing to get serious. we have heard the house speaker will update us on the talks within that hour from house floor. we will hear what speaker banner has to say. joining us right now are to congressman. would you vote if there was an agreement? >> i think it will be a balanced plan that will increase revenues by raising the rates on upper income families, but, at the same time, agreeing to substantial cuts. connell: the reason i started by asking that question is because i am sure it is frustrating, the members of congress to not be i
intelligence council global trends report takes into account fax tores like globalization and environment. europe, japan and russia are expected to continue declining economically. >>> standard charter reached at 327 dal million settlement with u.s. regulators for hiding the identity of iranian customers involved in dollar clearing transactions. the nearly three-year-investigation discovered criminal activity dating back to 2001. >>> boeing finalized a order for turkish airlines for 15, 777 extended range planes. the largest deal by value in turkish airline history. melissa: so is global warming to blame for hurricane sandy, right? former vice president al gore thinks so and blames president obama for not doing enough to fix it. >> it is causing these extreme weather events. dirty energy causes dirty weather. and we have to come to our senses and do something about it. i deeply respect our president. i'm grateful for the steps that he has taken but we can not have four more years of mentioning this occasionally and saying it's too bad that the congress can't act. melissa: but then, colora
. this fuel is lauded as great for the environment and a good thing. some manufacture you ares are saying guess what, it will void your warranty if you use this fuel in certain cars . what do you make of this whole thing? >> melissa, what happened this is good example where the government mandates picking winners and losers and forcing decisions on the part of consumers which could be harmful to consumers. comment by aaa coming out to say the decision to allow for e15 blend or 15% of their gasoline to be derived from biofuels, in this case ethanol, the auto manufacturers have said they will not honor their warranties if people use this fuel which is potentially harmful to their engines. the automakers researched this. melissa: it is amazing because they say i void your warranty. >> yeah. melissa: can you imagine you buy the fuel and put it among the manufacturers, chrysler, gm, toyota, especially in older vehicles and look at your manufacturers website if you're in this group, what happens with the e15 the fuel separates and ethanol in there is highly corrosive to your engine. is this new
and where to spend it, as they look at the u.s., what they want to see is a stable environment to put that money to work. if we can get that capital into the u.s. that will be a stimulus program by itself. >> frits, we pending on how you look at the numbers there are peel who say these two proposals aren't that far off. if you look at the numbers on each side and maybe try to find some common ground in the middle, maybe get to $1.2 trillion, where do you go on spending cuts is the big question because that seems to be a little easier. do you think this needs to be a three to one when it comes to revenue versus revenue increase or three to one when it comes to spending cuts versus revenue increases? do you see one to one, what would make you feel good looking around the globe and looking at what -- >> i'm not a tax expert so i can't give you a precise ratio. what we need to do is see a program where, if you look at reasonable numbers, you could see that the debt-to-gdp ratio comes down over time. as we go from $16 trillion, as we cross that 100% mark, we start looking more and more lik
american corporations have done a terrific job of coping with a tough regulatory environment, a tough financial. the aftermath of this financial crisis. a lot of negative publicity. and made a lot of money. >> we want to rise above. do we not have a debt ceiling right after that? >> the debt ceiling. the interesting question whether they're going to roll -- >> here's what i think. we haven't talked about this. so i say president obama allows us to go over the cliff temporarily so that all the rates go up. then the democrats introduce a bill to lower it for 9 %, do some other stiff -- 98%, do some other stuff they want to do. then the republicans say fine but we've got to hold the debt ceiling, that's the next bargaining chip. i don't think we can use rides above for the debt ceiling because we don't want to rise above the debt ceiling. we have to come one new buttons -- >> pins, the whole thing. yeah. that is a dilemma. what a polemic -- >> constantino is cutting me off. you're going to hold that against me? all right. >> you can hear the voice in my head. >> yeah. he's mad because i
than we've seen. i think the key question is going to be is that sustainable in an environment that's very promotional and with a competitor, sam's, that is starting to pivot toward more price reinvestment. >> your skepticism echos what the journal had this morning. great business, smart model, great balance sheet management, but at $98 here, it's hard to move the stock s that your thesis? >> it is. the stock is certainly richly valued. we also think that costco is largely a membership fee model. the company increased the membership fee about a year ago. you're now seeing decelerated growth for membership fees. it was a nice part of the thesis. that's kind of in the rear view mirror. the stock looks expensive. not a lot of margin opportunity in the model. it's a good growth opportunity. a phenomenal business. really fully valued here. >> finally, colin, the special dividend took a lot of people by surprise. do you think that marks a shift in the behavior of balance sheet management at the company? >> the company is extremely underleveraged, i.e. overcapitalized. they have excess cas
. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you have and pay for it by raising taxes, or you kind of leave taxes where they are and you shrink government down to where it pays for it. does it matter for the future and for growth which way you do it in your view? >> it does. if you put it all into like a tightening, so how much tightening occurs in the economy that would slow the economy, it's far better to actually reduce government spending than it is to actually raise taxes. >> although that hurts the economy, too. >> everything hurts the economy. so it's a question of which is most -- or least harmful and that tends to be cutting government spending. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just
win, i think you will see a move toward a poor -- a more investment-friendly environment which, in my view, rusty, will see bonds continue their downward trend. and you could see a new equilibrium in terms of bond yields. closer to peers, ukraine, mongolia, even nigeria which are yielding between 4% and 6%. you have to remember that venezuela has been in double-digit yield territory over the past ten years. precisely because of these distortionary policies and the nationalization from the chavez regime. a move toward opening the oil market, possibly joint ventures which is what the opposition has been talking about, in investment in the oil market would be a net positive. and i think would push venezuelan yield down to around the 4.5%, 5.5% arena. >> okay. following developments out of miami from baltic capital markets. >>> as the year draws to a close, twitter has made loggers log in, tweet, and re-tweet in 2010. the most re-tweeted, president obama's four more years after winning re-election last month, accompanied by a picture of him embracing first lady michelle obama. aside from
. >> what happens to the money? >> what always happens to money. we have an environment where the interest rates are low, so if you reinvest it in a fixed income product, you won't make much return. you'll have capital losses on bonds. i'm very concerned about the low interest rate in the bond market and the long period of time we've had bond yield this is low. and in the stock market, you have to be careful because there could be a sorting out among stocks between high and low dividend stocks and how they perform when these guys go x dividend. >> why couldn't you invest in g chlt and g e or comcast and get a 3% yield there. either one would be a good place.or comcast and get a 3% y there. either one would be a good place. >> wasn't i invested in company x before, didn't i have that money in there and now they're giving it back? >> now you own a larger part of the company. >> no, because -- >> if you reinvest it and they buy more share, you own a larger piece of it. >> it should be equal. they've taken that cash out of the company. the stock price should adjust lower. >> but cash is not th
pricing environment, and low interest rates. so collectively, we think these three factors would definitely drive demand verystantially next year. it's been a terrific year for the home builders. we think we're still in the third inning, not the seventh inning. both for fundamentals and the stocks. >> is there a part of the market we'll see the most building? is it the lower end or higher end? take a look at the demographic patterns, household formations depressed since 2007. there's a notion there has to be a catch-up and new households now being formed. if you're to take that piece as going forward, you would think it would be the younger end of the spectrum out there going out there -- >> absolutely. we're comfortable with the thesis that first time home buyers are going back to the market in a very strong way. we see a number of stocks doing really well who cater to that market next year, like lennar, hulte, tull will do well and our big cause of the sandskaps will show strength. arizona, california, nevada and florida. it's going to take us out. >> the concern investors migh
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